Kenny Rogers Sings Songs & Sells Mansions! This one at $4.5 Million

Kenny Rogers' Tuxedo Park Mansion in Atlanta, GA  is Up for Sale at $4.5 Million

Source: travisreedweb.harrynorman.com

                         Photo credit: Josh Vick, HomeTour America

TUXEDO PARK, ATLANTA, GA -- Before Ellen DeGeneres, Meg Ryan and Diane Keaton, there was Kenny Rogers - Hollywood celebrities who entertained us and flipped homes on the side. 

Kenny Rogers

Born in 1938 with the entrepreneur gene, Kenny Rogers’ instinct for making money goes back to his poor Houston childhood in a federal housing project with his parents and seven siblings when he had to make a few bucks to finance his budding music career, according to
TopTenRealEstateDeals.com.

Arthur Blank

He found early success as a local teen star and sang his minor-hit song That Crazy Feeling on Dick Clark’s American Bandstand at age 20. 

Coca Cola's Robert Woodruff

Later joining the New Christy Minstrels and then the First Edition and then going solo with giant hits such as The Gambler, Lady and Islands in the Stream, his career soared as one of the world’s favorite country-pop singers.

Bobby Jones 

By the 1980s, Rogers had won over 50 major music awards including many Grammy, American Music and Country Music awards and in 1986 was named the Favorite Singer of All Time by USA Today. 

Ellen DeGeneres

Always with lots of energy while singing, acting, producing and television roles, Kenny segued into buying, renovating and selling big homes with good bones in upscale neighborhoods at a good profit. 

Meg Ryan

He sold his first flip in 1984 in Beverly Hills for $20 million which was a record price at the time. Since then, most of his homes have been in the Atlanta area where he also started an interior design business, Kenji Design Studios, that catered to Atlanta’s richest home owners such as Home Depot’s co-founder Arthur Blank.

Diane Keaton

A small sample of Kenny’s real estate work, in 2002 Rogers bought a bank-owned, 27,000-square-foot home in Atlanta that had been on the market at $12 million for just $2.75 million and sold it in 2006 for $8.5 million.

Tuxedo Park Mansion's Dining Room

 Just outside of Athens, Georgia, Rogers built the almost 1,000-acre Beaver Dam Farm which he later sold in 2011 for $10.5 million.

 In 2009, Rogers paid $2.8 million for a home in Atlanta’s ritzy Tuxedo Park that was listed at almost $8 million. He sold it elegantly furnished in a down market in 2011 for $3.725 million. It is once again on the market along with the furnishings just the way he left it asking $4.495 million.

Rogers bought and then spent over $3 million to redesign and decorate the Tuxedo Park home when his twin sons were only four years old and needed plenty of space to play.

Pool side at Tuxedo Park Mansion

(Kenny has been married five times but married to his current wife and twins’ mother since 1997). 

Sited on a little over an acre, it is similar to the other large homes in the neighborhood echoing status with their elaborate architecture, pools and tennis courts. 

Measuring almost 7,000 square feet, the style is Mediterranean with a meticulously landscaped gated-drive entry and grounds.

Entrance at Tuxedo Park Mansion

From the large motor court, the front doors open into a dramatic foyer with soaring ceiling, curving stairs to the floor above and large enough for a grand piano perfect for greeting party guests in southern style.

Foyer at Tuxedo Park mansion

 Formal spaces are large and elaborate with rooms having 20-foot ceilings, gilded doorways and mirrors. For less formal entertaining the movie-game room also has a large sit-down bar area. 

There is also an office surrounded by tall windows with coffered ceiling and a huge eat-in kitchen. With six ensuite bedrooms and two additional baths, plenty of room for Kenny’s large collection of music-business friends.

Leisure room at Tuxedo Park mansion

The large master suite includes a romantic fireplace. Entertaining options extend to an expansive pool terrace with an enclosed play area to the side.

Tuxedo Park has been home to Atlanta’s wealthiest residents since the early 20th century when they engaged the best architects to design their elaborate summer homes outside the heat of the city.

Travis Reed

The neighborhood, now on the National Register of Historic Places, is home to the Georgia Governor’s Mansion and has been home to Coca Cola chairman Robert Woodruff and golfer Bobby Jones among other notables.

Kenny retired from entertaining in 2017 and has not done any recent home flips, but there is talk of one more studio album, so The Gambler might be back soon. 

The listing agent for Kenny's elegant Tuxedo Park home is Travis Reed of Harry Norman Realtors, Atlanta, Georgia.

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

Levin Johnston Directs Two Multifamily Property Sales Totaling Nearly $24 Million in California Bay Area

 Union Pines Apartments in Campbell, CA Sold for $15.5 Million

SANTA CLARA COUNTY, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has successfully directed the sale of two multifamily communities totaling $23.8 million in Santa Clara County – a high-barrier-to-entry market in the California Bay Area. 

The properties include a 36-unit community in Campbell, California, and a 23-unit community in San Jose, California.

 1012 Elm Street in San Jose, CA Sold for $8.3 Million

Adam Levin, Executive Managing Director, Robert Johnston, Senior Managing Director, and Eymon Binesh, Investment Associate of Levin Johnston, represented the buyers in each transaction and the seller of the Campbell property. Levin and Johnston also represented the buyer of the San Jose community.

Adam Levin

“Investor demand in the Bay Area remains is at an all-time high,” says Levin. “Santa Clara County has an enviable combination of major universities that produce a highly educated workforce, cutting edge firms, and exceptional affluence. 

"Multifamily owners in the market who are looking to sell understand that this is the perfect time to achieve a premium price, considering that the metro is expected to add approximately 44,000 people through 2023.”

Levin Johnston’s recent transactions include:

Levin Johnston of Marcus & Millichap directed the sale of Union Pines Apartments, a 36-unit apartment community in Campbell, California, for $15.5 million.

“Properties like Union Pines, situated in markets with high barriers to entry, offer tremendous upside potential and are highly sought after by investors,” explains Johnston. 

“We were able to achieve a premium price for our client by effectively demonstrating to the buyer Santa Clara County’s strong employment fundamentals and low vacancy levels, which make the asset an attractive choice for South Bay residents for years to come.”

Robert Johnston

Union Pines Apartments is located near several major tech employers such as Google, Facebook, LinkedIn, and Apple. 

$8.3 Million Sale of 1012 Elm Street in San Jose, California

            Levin Johnston also directed the sale of 1012 Elm Street, a 23-unit multifamily community in San Jose, California, for $8.3 million.

            “San Jose is known as ‘The Capital of Silicon Valley’ and is now considered to be a global city, notable for its affluence,” says Levin. 

“Situated near some of the nation’s top tech employers, the property is expected to benefit from an educated workforce and strong demand from high-income renters. 

"Additionally, Google is set to develop one of their largest campuses in downtown San Jose, which will bring 20,000 new jobs to the area, further driving this demand.”

           Levin Johnston has completed over $300 million in sales in 2019 to date, demonstrating continued health in the commercial real estate market in this region. 

 Levin Johnston Group is part of Marcus & Millichap’s Palo Alto office. 

Contacts:

Alex Caswell / Jenn Quader 

Brower Group

(949) 438-6262

acaswell@brower-group.com

www.levinjohnston.com.

JLL closes $41.4 million sale and $27.8 million financing of Class A office property in Easton, OH

One & Two Easton Oval, a two-building, Class A office property totaling 252,461 square feet in Easton, OH

Jim Postweiler

CHICAGO, IL – JLL announced it has closed the $41.4 million sale and $27.8 million financing of One & Two Easton Oval, a two-building, Class A office property totaling 252,461 square feet in the Columbus-area community of Easton, Ohio.

JLL represented the seller, Garrison Investment Group, and procured the buyer, Minneapolis-based Founders Properties.

In addition, JLL worked on the new owner’s behalf to secure a seven-year, floating-rate acquisition loan through TCF Bank.

Peter Harwood

One and Two Easton Oval is located approximately 10 miles northeast of Columbus’ central business district in Easton, the area’s most preferred submarket.

Positioned near the Interstate 270 and Easton Way interchanges, the property provides ideal commuter access to the greater metropolitan area, including Port Columbus International Airport just 2.5 miles south and nearby expressways such as Interstates 70, 670 and 71.

Additionally, One and Two Easton Oval is proximate to Easton Town Center, the city’s premier shopping, dining, entertainment and lodging destination providing more than 1.7 million square feet of amenities.

 Derek Fohl 

Completed in the late 1990s, the two-building property is 91.4% leased and offers tenants a variety of open collaborative space plans, an on-site deli, 24/7 security and abundant parking.   

JLL Capital Markets Managing Directors Jim Postweiler and Peter Harwood, Senior Vice President Derek Fohl and Senior Director Patrick Shields led the sales and marketing efforts for the seller.

JLL Capital Markets Managing Director Steve Buss and Executive Vice President Marc Nanne represented the buyer in the transaction.

Patrick Shields 

 JLL Agency Leasing Senior Vice Presidents Collin Wheeler and Aaron Duncan supported the sales effort with their local market expertise and history leasing the property. 

JLL’s Capital Markets debt placement team representing the new owner was led by Managing Director Keith Largay and Vice President Patrik Modig.

About Garrison Investment Group

Garrison Investment Group is a leading middle market credit, distress and asset-based investor.  Garrison’s investment vehicles include hedge funds, private equity format funds and managed accounts.

 Steve Buss 

About Founders Properties

Headquartered in Minneapolis, Founders Properties is a privately held company formed by two highly regarded industry veterans, Best Buy founder Richard M. Schulze and Opus founder Gerald Rauenhorst. 

The company provides a full range of acquisition, financing, asset management and investment services for high-net-worth investors, continuing the legacy of sponsoring private real estate investments first started in 1997.

Marc
Nanne

 The company’s current portfolio of approximately 100 institutional grade properties includes office, industrial, retail and mixed-use projects located throughout the United States.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. 

Collin Wheeler

In doing so, we will build a better tomorrow for our clients, our people and our communities. 

JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019.

 JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. 

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Aaron Duncan

Contact:

 Kristen Murphy, JLL Director, Public Relations

Email: Kristen.Murphy@am.jll.com

Phone: +1 617 848 1572 

 jll.com.